It adds that the group’s performance during the 3QFY2022 was “propelled by diversified growth across the wholesale and retail businesses. Cross-border income grew steadily while credit card fees were higher and the mortgage business remained resilient.”
UOB Group has reported net profit after tax (NPAT) or net earnings of $1.40 billion for the 3QFY2022 ended Sept 30.
The quarter’s earnings, which improved by 34% y-o-y and 26% q-o-q, is a record high for the bank. The improvement was driven by strong net interest income (NII), higher customer-related treasury income and lower credit allowance, says the group in its business update.
